Society Of Petroleum Engineers Tr
- Assets
- $12.4m
- Revenue
- $634.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Richardson, TX
- Founding
- 01/1978
- Data as of
- 11/2021
- EIN
- 75-1575590
Organization Overview
Society Of Petroleum Engineers Tr is located in Richardson, TX. The organization was established in 1978. According to its NTEE Classification (U11) the organization is classified as: Single Organization Support, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Society Of Petroleum Engineers Tr is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 11/2021, Society Of Petroleum Engineers Tr generated $634.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.8%) each year. All expenses for the organization totaled $1.1m during the year ending 11/2021. As we would expect to see with falling revenues, expenses have declined by (0.6%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO HELP SUPPORT MEMBER PROGRAMS OF THE SOCIETY OF PETROLEUM ENGINEERS AND STUDENT SCHOLARSHIPS FOR STUDENTS PURSUING AN EDUCATION IN PETROLEUM ENGINEERING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTRIBUTIONS TO THE SOCIETY OF PETROLEUM ENGINEERS TO SUPPORT MEMBER PROGRAMS FOR THE DISTINGUISHED LECTURER SERIES AND SPONSORING TECHNICAL WEBINARS.
SCHOLARSHIPS PAID FROM THE ARCHIE FUND, NICO VAN WINGEN FUND, THE IMOMOH FUND, AND DON RUSSELL FUND.
MANAGEMENT FEE TO SPE INC FOR PROVIDING SERVICES IN HANDLING THE SCHOLARSHIP COMMITTEES AND HANDLING THE VARIOUS MEMBER PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Egbert Imomoh President | OfficerTrustee | 1 | $0 |
Dr Ganesh Thakur Past President | OfficerTrustee | 1 | $0 |
Ms Janeen Judah Treasurer | OfficerTrustee | 1 | $0 |
Mr Darcy Spady Secretary | OfficerTrustee | 1 | $0 |
Dr Jeffrey B Spath Vice-President | OfficerTrustee | 1 | $0 |
Dr Tom Blasingame 2021 Spe President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $164,059 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $164,059 |
| Total Program Service Revenue | $0 |
| Investment income | $378,963 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $91,732 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $634,754 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $867,000 |
| Grants and other assistance to domestic individuals. | $32,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $9,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $125,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,830 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,353 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,863 |
| Office expenses | $2,959 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,079,005 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $245,915 |
| Savings and temporary cash investments | $615,408 |
| Pledges and grants receivable | $45,857 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $11,476,086 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,383,266 |
| Accounts payable and accrued expenses | $65,295 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $821,822 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $887,117 |
| Net assets without donor restrictions | $9,249,455 |
| Net assets with donor restrictions | $2,246,694 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $12,383,266 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Society Of Petroleum Engineers Tr has recieved totaling $22,000.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $20,000 |
The Covia Foundation Independence, OH PURPOSE: SUPPORT GOLF OUTING | $2,000 |
Endowment Analysis
| Beg. Balance | $10,937,655 |
| Earnings | $870,648 |
| Admin Expense | $1,916,941 |
| Grants | $41,000 |
| Ending Balance | $9,850,362 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New Mexico Tech Foundation Socorro, NM | $38,498,574 | $2,517,298 |
Seg Foundation Tulsa, OK | $27,222,426 | $2,585,485 |
Society Of Petroleum Engineers Tr Richardson, TX | $12,383,266 | $634,754 |
Lasa Robotics Association Inc Austin, TX | $50,335 | $0 |
Alamo Regional Academy Of Science And Engineering San Antonio, TX | $23,769 | $0 |
Eaa Chapter 1515 Se Texas Flyers Kountze, TX | $4,095 | $500 |
Insights New Mexico Science Center Inc El Paso, TX | $4,738,706 | $0 |